Toyota Report : Toyota Motor Corporation

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Toyota Motor Corporation abbreviated TMC, is a Japanese multinational automaker headquartered in Toyota, Aichi, Japan. In 2010, Toyota employed 300,734 people worldwide, and was the largest automobile manufacturer in 2010 by production. Toyota is the eleventh largest company in the world by revenue. In July 2012 the company reported that it had manufactured its 200 millionth vehicle.

The organization was established by Kiichiro Toyoda in 1937 as a spin off from his father’s company Toyota Industries to manufacture automobiles. Three years earlier, in 1934, it manufactures Figure 1- Toyota Production System its first product, the Type an engine, and, in 1936, its first passenger car, the Toyota AA. Toyota Motor Corporation
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The Toyota Production System (TPS) is a standard and admirable model of Lean Manufacturing, though it should be kept in mind that this structure is custom-made to the requirements of Toyota, so that it can 't be imitated to other organizations without alteration. Moreover, TPS incorporates not only common Lean-principles such as decreasing waste, encouraging flow and generating market-pull, but comprises also lean management by the use of other progressive approaches such as Total Productive Maintenance.
(Toyota returns to its roots: listen, stop, think, improve, 2010)

Product Recalls:

A product recall is a request to return to the manufacturer a consignment or a whole production run of a product, typically due to the detection of safety concerns. The recall is an exercise to bound accountability for corporate carelessness (which can cause costly legal fines) and to develop or dodge damage to publicity. Recalls are generally expensive to a corporation since they usually involve interchanging the recalled product or reimbursing for damage caused by use, though perhaps less expensive than consequential charges triggered by damage to brand name and reduced confidence in the manufacturer.

Toyota Recall:

Three discrete but interrelated recalls of automobiles by Toyota Motor Corporation occurred at the end of 2009 and at the commencement of 2010. Toyota initiated the
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